Powell: Economy might be the defining issue of the campaign
Former secretary of state on President Obama, 2012 race
- Duration 6:12
- Date May 23, 2012
Former secretary of state on President Obama, 2012 race
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Delegates you know former secretary of state Colin Powell his new book it worked for me in life and leadership it is now in bookstores Amazon.com.
I know you're asked this morning what Matt Lauer whether or not you decided about the reasonable for in this upcoming election you know earlier endorsements powerful.
And there were even to get I think it had a big impact in 2008.
You say is still a Republican.
-- here's a question and I'm gonna go back toward somebody that we both admire respect a lot and that's Ronald Reagan.
And and and some that are we better off than we were four years ago and are we better off than we were five trillion dollars in -- ago.
Look at present -- ask if you ask the financial community they would say this system been stabilized and we're not going off a -- the way were five years ago the stock markets over twelve.
Thousand and it's enough to thirteen thousand so some people say -- good gas auto workers they would -- we're better off now -- work.
Four years ago if you ask others they would say business leaders for example many of them and I and I live about the business world would say.
We are not that happy with where we are just too much regulation is too much government interference from what we're trying to do we like to see that end.
If you talk to the people who -- the lower end of the income -- They're waiting for the unemployment rate to go to and the economy because that's the most important thing facing this country -- getting the most important things facing this country right now.
We've got to get the economy moving and that's not just a problem for government that's a problem for business for investors all of us.
Who -- -- in this country.
Economy's got to get moving we gotta get the unemployment rate down on them may be the defining issue of the campaign right we got to get in the education of our kids.
-- -- I could spend an hour that but I won't.
We've got a clean up our environment we can't keep going like this and I think all people understand that we just haven't found the right way to go about it.
Without essentially you know putting too much of burden on our businesses and taxpayers -- and I think we have to find a way.
To bring the fiscal situation under control.
I think that my -- my good friend Martha Simpson and then -- came up with a plan.
I wish both sides could -- the president average I don't know why did I never -- haven't discussed it with them.
But -- reasons that I don't know it was not adopted we keep in mind congress wouldn't create such a body.
President had to created them any good either accepted to dismiss it.
But we have to realize in my judgment and I'm no economist and I'm not in the politician believe it or not.
Thank god for you if you didn't -- a new book about wanting good thinking two months about running for president in two months and that went away the few really quick.
But only have to do is you know we can't just say it would never gonna raise taxes Reagan used to say that -- -- twelve times.
We're never gonna raise -- had a net major WiMax to kind of good so I needed 28% you've got he's got -- you've got to -- Agile enough to be able you just don't say never never never never.
I know and we did you need they'll didn't Wear it if we if we're not gonna do that.
Then we're gonna cut the spending but the lineup everybody and then ask them what do you really gonna cut let's get serious now what he had to cut.
And you don't get the numbers you need we cannot keep going as a nation spanning three trillion dollars a year and only taking into.
We will be borrowing forty cents of every dollar and I hear everything that you -- an -- -- with everything.
You know here's my frustration with President Obama and this is where again I come back to you know understanding where you are provisions such a powerful voice and I'm not trying to persuade you because I think your man a -- -- -- -- -- talk show host.
But you when you endorse President Obama -- complaining about 500.
Billion dollar year deficits he's given us.
Five trillion in new Obama -- He said he cut the deficit in half he's given us the largest deficits in history he said it eliminate lobbyists it's a revolving door as we -- this week.
He said he'd eliminate earmarks he has -- accomplish that.
As a military guy I think when somebody goes -- apologizes it repeatedly as he has done for this country and you have served this country with such distinction of that would bother you.
And that's where I I kind of what I I don't understand Colin Powell OK she supported Reagan how do you support somebody who -- I was the -- -- I've supported Reagan -- supported Jack Kennedy has supported Lyndon Johnson as the Kennedy was like Reagan.
The Democrats I think it took first of all he has not gone around the world apologizing for everything I -- I take exception with that I don't think we have enough.
Time to get and details left.
All sides of this government in the executive branch and and legislative branch you know that the president doesn't pass appropriations bills.
The bills are signed by in the house and the senate and then come to him for signature.
And so if they congress doesn't want to see those kinds of expenditures taking place.
And the and the numbers going up.
Don't pass the senate Democrats haven't passed the bill over a thousand -- are right more than a thousand days at 11112 will help low level it why does it keep going popped.
I mean the bills that they haven't passed -- bills are -- gonna cut things -- we did and here's the other challenges that both the Republicans and the Democrats have.
The people -- like what they're getting from their government.
And when you say well let's do this to social security and we have let's do that and you don't mean media.
Well we have better we had better realize that we have to go after entitlement spending.
And I think I think we can do a heck of a job and cutting the size of government here in Washington.
It is -- like -- in the thirty years that I've been in public service at the senior level and we could do him a massive job there.
You can't put the Defense Department off the table or anything off the table.
And we need some serious people who will sit and say look everything's on the table.
And if you can convince me that revenue as a way to fix this then let's talk about that.
But I got to convince you that maybe we should cut this department that department -- -- this.
Look at all the government's been raised in the last twenty years the department that Director of National Intelligence the TSA.
Homeland Security Department these are all -- Obama so there's a lot of carry over from that but why they there because we needed them the country needed them.
Good to see in the circuit racing always honored to have a.